Intersect ENT, Inc. (NASDAQ:XENT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm currently has a $33.00 target price on the medical equipment provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.14% from the stock’s current price.

According to Zacks, “Intersect ENT, Inc. is a commercial drug-device company. The Company’s initial products, PROPEL and PROPEL mini, are drug-eluting implants for use in patients with chronic sinusitis. It offers products and therapies for ear, nose, and throat surgeons to improve treatment for their patients with chronic diseases. Intersect ENT, Inc. is headquartered in Menlo Park, California. “

XENT has been the subject of a number of other research reports. Bank of America Corporation raised their price objective on shares of Intersect ENT from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, September 11th. Canaccord Genuity raised their price objective on shares of Intersect ENT from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. BidaskClub downgraded shares of Intersect ENT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Piper Jaffray Companies restated a “buy” rating and set a $35.00 price objective on shares of Intersect ENT in a report on Tuesday, August 22nd. Finally, Northland Securities restated a “hold” rating and set a $25.00 price objective on shares of Intersect ENT in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Intersect ENT has an average rating of “Buy” and a consensus price target of $27.70.

Intersect ENT (NASDAQ XENT) opened at 30.90 on Thursday. The company has a 50-day moving average of $30.43 and a 200-day moving average of $25.54. Intersect ENT has a 52 week low of $7.65 and a 52 week high of $33.25. The firm’s market cap is $901.94 million.

Intersect ENT (NASDAQ:XENT) last posted its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.11. Intersect ENT had a negative net margin of 22.94% and a negative return on equity of 17.60%. The business had revenue of $24.00 million during the quarter, compared to the consensus estimate of $22.62 million. During the same quarter last year, the company posted ($0.21) earnings per share. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities research analysts forecast that Intersect ENT will post ($0.61) earnings per share for the current fiscal year.

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In other news, COO Richard E. Kaufman sold 12,500 shares of Intersect ENT stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $28.25, for a total value of $353,125.00. Following the completion of the transaction, the chief operating officer now owns 169,821 shares in the company, valued at $4,797,443.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeryl L. Hilleman sold 12,833 shares of Intersect ENT stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $31.05, for a total transaction of $398,464.65. Following the completion of the transaction, the chief financial officer now owns 27,833 shares of the company’s stock, valued at approximately $864,214.65. The disclosure for this sale can be found here. Insiders sold 147,065 shares of company stock valued at $4,345,607 in the last quarter. Corporate insiders own 13.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. boosted its position in shares of Intersect ENT by 0.9% in the third quarter. Moors & Cabot Inc. now owns 10,950 shares of the medical equipment provider’s stock valued at $175,000 after acquiring an additional 100 shares during the period. Teachers Advisors LLC boosted its position in shares of Intersect ENT by 0.3% in the fourth quarter. Teachers Advisors LLC now owns 59,774 shares of the medical equipment provider’s stock valued at $723,000 after acquiring an additional 206 shares during the period. Legal & General Group Plc boosted its position in shares of Intersect ENT by 3.8% in the second quarter. Legal & General Group Plc now owns 6,939 shares of the medical equipment provider’s stock valued at $193,000 after acquiring an additional 255 shares during the period. American International Group Inc. boosted its position in shares of Intersect ENT by 7.1% in the first quarter. American International Group Inc. now owns 15,704 shares of the medical equipment provider’s stock valued at $269,000 after acquiring an additional 1,037 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Intersect ENT by 9.7% in the second quarter. Voya Investment Management LLC now owns 12,724 shares of the medical equipment provider’s stock valued at $356,000 after acquiring an additional 1,128 shares during the period. Hedge funds and other institutional investors own 83.12% of the company’s stock.

About Intersect ENT

Intersect ENT, Inc is a commercial-stage drug-device company. The Company develops drugs for patients with ear, nose and throat (ENT) conditions. The Company has developed a drug releasing bioabsorbable implant technology that enables targeted and sustained release of therapeutic agents. This targeted drug delivery technology is designed to allow ENT physicians to manage patient care.

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Analyst Recommendations for Intersect ENT (NASDAQ:XENT)

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